Vicor Corporation Reports Q3 2026 Financial Results
20 Oct 2026 · 1d ago, 4:51 pm
Summary
Vicor Corporation announced strong financial results for the third quarter ended September 30, 2026, with total net revenues reaching $197.1 million, marking a substantial 78.5% year-over-year increase. The company saw a significant improvement in its gross margin, which rose to 68.3% from 57.5% in the prior year's quarter. Net income for the quarter was $63.3 million, or $1.33 per diluted share, a considerable jump from $28.3 million, or $0.63 per diluted share, in the third quarter of 2025. The company also reported a robust backlog of $406 million, up 166% year-over-year, and a healthy increase in cash flow from operations to $69.7 million.
Key Highlights
- 1
Vicor Corporation reported total net revenues of $197.1 million for the third quarter ended September 30, 2026, a 78.5% increase from the corresponding period a year ago.
- 2
Gross margin increased to 68.3% for the third quarter of 2026, up from 57.5% in the same period last year.
- 3
Net income for the third quarter was $63.3 million, or $1.33 per diluted share, a significant increase from $28.3 million, or $0.63 per diluted share, a year ago.
- 4
Backlog totaled $406 million for the third quarter ended September 30, 2026, a 166% increase from $153 million for the corresponding period a year ago.
- 5
Cash flow from operations totaled $69.7 million for the third quarter, compared to $38.5 million for the corresponding period a year ago.
- 6
Vicor Corporation's cash and cash equivalents increased 13.1% sequentially to approximately $513.1 million as of September 30, 2026.
Management Comments
Patrizio Vinciarelli
With the purchase of two additional sites within 30 miles of ChiP Fab-1 in Andover, we will be able to provide a nearly 5X increase in capacity from 3 Fabs, relative to Fab-1. Capacity expansion is necessary in view of demand and industry trends. Open Compute confirmed the challenges of VRs and IVRs. In addition to infringing patents to 1st GEN VPD, VRs and IVRs face electrical, mechanical and thermal barriers to escalating AI processor requirements. In private presentations and lab sessions with OEMs and Hyperscalers, we demonstrated the distinct advantages of Vicor’s 2nd GEN VPD. Participants paid attention, providing positive feedback and interest in engaging. The stage is set for broader adoption of high performance ALL-FPA current multiplier modules which enable 2nd GEN VPD. On the licensing front, we granted our first VPD license to an AI OEM at Stage-2 unit royalty rates. Unlicensed OEMs and Hyperscalers may not have realized the implications of importing, or planning to import, computing systems infringing Vicor patents to VPD. The ITC decision to institute an investigation into VPD infringement is catching their attention, prompting inquiries about licenses at royalty rates that strongly favor early adopters.
Informational and educational content only. Not investment advice.